Ridge Building Spec Industrial in Medley

Ben Eisenberg

MIAMI— Transwestern Development ‘s industrial development arm just broke ground on a speculative industrial project in Medley, FL. Ridge Development is building Airport North Logistics Center. Airport North Logistics Center is located at the intersection of Northwest 87th Avenue and Northwest 90th Street in Medley. The industrial facility is set to open September 2016. Transwestern senior managing directors Ben Eisenberg and Walter Byrd , senior vice president Thomas Kresse and senior associate C arlos Gaviria will handle leasing services. Itasca Construction is overseeing construction of Airport North Logistics Center. “Ownership set out to deliver a property that is forward-thinking and will meet business requirements for decades to come,” Eisenberg tells GlobeSt.com. “Their willingness to allow the needs and equally important the requests of occupiers to take precedent in the design and configuration of the building, such as trailer storage and secure truck courts, will create high demand in the marketplace.” Steve Kros , executive vice president at Ridge, says Airport North Logistics Center will be one of the most modern and efficient distribution buildings in Miami-Dade County: “The Medley submarket is active with new warehouse construction projects, and our development is on target to meet future demand by featuring 32-foot clear height, 54-foot column spacing, ESFR fire protection and ample space for trailer parking.” Beyond the 32-foot clear ceiling height, the new development will feature a 60-foot speed bay, 235-foot building depth and 43-foot-9-inch by 54-foot column spacing. The industrial project will  also include 46 dock-high doors, two street dock ramps, 72 trailer spaces and additional vehicle parking or outside storage, all within top-quality security fencing.   “This state-of-the-art facility meets all the ‘wish list’ requirements of today’s tenants,” says Eisenberg. “Despite the nearly 4 million square feet of industrial space delivered in Miami during the past two years, demand has continued to outpace supply. With such strong market conditions and a compelling project design, we anticipate Airport North Logistics Center will be in high demand from the industries driving much of that momentum, including international logistics providers, regional distributors and the aviation sector.” One of the most active submarkets in Miami, Medley’s 3.6% vacancy rate is expected to decline further throughout the year despite new product coming online. The 3.7 million square feet of absorption in Miami’s industrial market in 2015 nearly matches the total amount of new product delivered in the past two years, pushing the overall vacancy to a 10-year low.